Beginning financial literacy

Beginning financial literacy

I can explain the choices people can make with the money they earn.

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Beginning financial literacy

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In this lesson, students will learn the choices people can make with the money that they earn. Students will analyze videos and discuss why people choose to spend, save, or share money.

Learning objective

Students will be able to explain the choices people can make with the money they earn.


Students will view a virtual toy store where they will drag the toys they want and place them into their virtual cart. Each item will have a price tag on it. Ask students to discuss what they chose and why.


The lesson will review that in order to have most of the things we need and want we need to have money, so it is important to make smart decisions with our money. The lesson will explain that when a person is old enough to get a job, they can earn money for their work. The students will watch a video about earning money. They will learn that kids can earn money in different ways such as doing chores at home or even receiving money as a gift. Students will be asked to brainstorm a time they may have received money and they will share what they did with their money. Then, they will learn that people have three choices for what to do with their money: spend it, save it, or share it. Students will analyze videos to review smart money spending decisions, why they should save money, and when it is appropriate to share money. Students will look at different situations and decide if they should spend, save, or share and explain why.


Students will respond to 10 questions, including 6 true/false and 4 multiple-choice.


Students will be given an allowance of $10.00 to spend in the virtual store, save, or share. Students will decide what they want to do with their money and write the reason why using sentence starters for support.

Teaching tips

Create an anchor chart with the 3 choices: spend, save, and share, and include examples of when it is appropriate to do each. Create a vocabulary word wall for financial terms discussed in the lesson.

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